News: Asciano Group reports FY net loss

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Asciano Group (ASX:AIO) has reported a net loss of $976 million for the 12 months to 30 June, dragged lower by impairment charges of $1.14 billion.

Earnings before interest, tax, depreciation and amortisation before significant items was $724 million.

The rail and ports operator posted an increase in profit before tax and significant items to $188 million, compared with $25 million a year ago.

Looking ahead Asciano says the outlook remains positive for the year ahead, the company expects growth from resources and bulk commodity sectors but remains cautious on the global economic recovery.

Asciano Group reported a loss of $246.44 million for the year to 30 June 2009, sliding to a further loss of $976 million in 2010.